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SPX at 3871
I’m going to enter a new BEAR TRAP with 38 days until expiry.
This is a 30 point wide put debit spread that is financed by naked short OTM puts.
Risk Profile:
Order Ticket:
Selling naked options has a big risk, so please be aware of risk before considering taking any short naked option positions.
I will hold this position to as close to expiry as possible and if SPX enters the TRAP, I will consider making adjustments in a way of rolling long put spreads down or buying a put to keep my NET delta close to flat.
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